Study the table above: What is the marginal product of th...
Study the table above: What is the marginal product of the second worker?
10
20
15
18
43
Correct answer is D
Is the change in output resulting from employing one more unit of a particular input, for instance, an increase in labour.
From the table above, when the firm had only 1 unit of labour, the output was 10. When it increased its labour to 2, the output increased to 28.
Therefore, marginal product of the second worker = 28 - 10 = 18
Similar Questions
Consumer surplus tends to be higher when demand is ...
Nigeria is currently implementing the ...
Which of the following matters may account for changes in supply? I - Technological advances...
One main benefit of partnership is ...
What is the population growth rate in 2003? ...
Cost-push inflation occurs when ...
One of the characteristics of a monopolist is that, he can influence ...
A typical corporate form of business organization is owned by ______ ...
The demand for a commodity for the sake of what it will yield is ...